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London Ontario Retail MarketView Q3 2017

• 190,097 sq. ft. of new retail product was under
construction in Q3 2017 which includes 2
dealerships.
• No new supply was added to the market in Q3
2017.
• The vacancy rate decreased quarter-over-quarter
from 7.3% in Q2 2017 to 6.0% in Q3 2017. Year
over year, the vacancy rate has decreased 140 base
points (bps) from 7.4 bps posted in Q3 2016.
• London’s mall sector vacancy is at 13.6% the lowest
achieved since Q1 2015 when the rate was 12.7%.
• Average asking net rent decreased to $15.53 in Q3
2017 compared with $18.55 in Q2 2017.
• 2017 year-to-date has achieved positive 435,552
sq. ft. of net absorption.